KUALA LUMPUR: Boustead Plantations Bhd (BPB) has sealed a RM45mil green financing agreement with China Construction Bank (M) Bhd (CCBM) to facilitate its sustainable replanting exercise.

       This is part of its commitment towards boosting its environmental, social and governance (ESG) efforts.

       BPB, one of Malaysia’s major palm oil companies, seeks to leverage financing to maximise its ongoing accelerated sustainable replanting programme, particularly for its plantation assets in Sabah, from this year until 2024.

       “The green financing agreement would allow BPB to complement its ongoing plantations performance improvement programme by optimising the potential of its plantation assets in Sabah,” its chief executive officer Zainal Abidin Shariff said in a statement.

       The agreement was signed by BPB director Ahmad Shahredzuan Mohd Shariff and its company secretary Affendi Mohd Yob, while CCBM was represented by executive vice-president Wang Shaoqiang. Zainal Abidin and CCBM CEO Wang QiJie witnessed the ceremony.

       There is zero burning and its palm biomass is recycled. — Bernama